Hydraulic hoses are designed to transport hydraulic fluid to or among hydraulic components, valves, actuators, and hydraulic equipment. Hoses are flexible in nature, and are reinforced with several layers, since hydraulic systems operate at high or very high pressures, and are used in heavy machinery and equipment for lifting/hoisting, compressing, shearing, extending, molding etc. A major factor driving growth of the global hydraulic hose market is increasing adoption of hydraulic hose in various end-use application.
The global hydraulic hose market was valued at US$ 1.7 Bn in 2016, and is expected to register a CAGR of 4.8%. The first five-year cumulative revenue (2017–2021) is projected to be over US$ 10 Bn, which is expected to increase considerably over the latter part of the five-year forecast period.
The global market is segmented into type, application, and region. On the basis of type, the global market is segmented into spiral wire hydraulic hose, wire braided hydraulic hose, and others (rubber and textile). The wire-braided hydraulic hose segment accounts for highest revenue share and is expected to witness significant growth during the forecast period. The spiral-wire hydraulic hose segment is expected to register a CAGR of over 5.0% between 2017 and 2026.
On the basis of application, the global market is segmented into engineering machinery, mining industry, industrial, and others (agriculture and automotive). The engineering machinery segment is expected to account for highest market share in the global market is expected to witness highest growth in terms of revenue during the forecast period.
On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The market in Asia Pacific accounts for highest share in terms of revenue in the global market. The Asia Pacific hydraulic hose market is expected to witness highest growth in terms of revenue over the forecast period.
The market in Asia Pacific accounted for highest revenue share in the global hydraulic hose market in 2016, and is expected to register highest CAGR of over 5% over the forecast period.
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Key players in the global market include Parker Hannifin Corp., Manuli Rubber Industries S.p.A., Alfagomma Hydraulic S.p.a., The Yokohama Rubber CO., LTD., Gates Corporation, Bridgestone Corporation, Eaton Corporation, Semperit AG Holding, HANSA-FLEX AG, SUMITOMO RIKO Company Limited, Continental AG (ContiTech AG), RYCO Hydraulics Inc., LUOHE LETONE HYDRAULICS TECHNOLOGY CO. LTD. (Letone), Shandong Dagong Rubber Co., Ltd., Hebei Yutong Special Rubber Hose Co., LTD., Ouya Hose Corporation, Jintong Rubber CO., LTD., Hebei Jingbo Petroleum Machinery Co., Ltd., Shandong Yuelong Rubber-Plastic Technology Co Ltd., Henan Yibo Rubber Technology Co., Ltd., and Hebei Hengyu Rubber Product Group Co., Ltd., Vitillo s.p.A., Diesse Rubber Hoses s.p.A., Bydgoskie Zakłady Przemysłu Gumowego “STOMIL” S.A., and Interpump Group SpA.